The starting point in determining the amount of a foreign tax credit available to a part-year resident of Canada in respect of a particular foreign jurisdiction is the total "non-business-income tax" or "business-income tax" paid for the year to that foreign jurisdiction... . However, the actual amount of a foreign tax credit available to a part year resident is determined by the formulas contained in subsections 126(1) and (2.1)... .
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Drupal 7 entity type
Node
Drupal 7 entity ID
315918
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
342105
Extra import data
{
"field_editor_tags": [],
"field_roundtable_subquestion": "5",
"field_stub": false,
"field_legacy_header": "<a id=\"2013-0480311C6\"></a><a href=\"/?p=20126\">2013 STEP Round Table, Q. 5, 2013-0480311C6 \"Foreign Tax Credit/Part Year Resident</a>:\" Respecting a request for affirmation that \"the foreign tax credit which can be claimed in respect of a part-year resident is not limited to the portion of the foreign tax paid while…resident in Canada [and] the foreign tax for the entire year may be claimed as a foreign tax paid, although the foreign tax credit is subject to other limitations, such as the ratio of the net foreign income to net income,\" CRA stated"
}
"field_editor_tags": [],
"field_roundtable_subquestion": "5",
"field_stub": false,
"field_legacy_header": "<a id=\"2013-0480311C6\"></a><a href=\"/?p=20126\">2013 STEP Round Table, Q. 5, 2013-0480311C6 \"Foreign Tax Credit/Part Year Resident</a>:\" Respecting a request for affirmation that \"the foreign tax credit which can be claimed in respect of a part-year resident is not limited to the portion of the foreign tax paid while…resident in Canada [and] the foreign tax for the entire year may be claimed as a foreign tax paid, although the foreign tax credit is subject to other limitations, such as the ratio of the net foreign income to net income,\" CRA stated"
}